Project Manager, Development - Development Corporation

Organization: New York City Housing Development Corporation

New York City Housing Development Corporation (HDC) is a public benefit corporation and the nation’s largest municipal Housing Finance Agency. HDC’s programs support the construction and preservation of multi-family affordable housing in New York City.

Area of Talent: Development/Affordable Housing

Position Type: Full Time/Exempt

Salary Range: $85,000 to $105,000 annually

Office

Location:

NYC/Financial District

The Project Manager is responsible for originating, underwriting, and closing mortgage loans to finance the new construction and preservation of affordable and public housing using funds raised through bond issuances and/or allocations of corporate reserves. This role reports to a Vice President in Development.

• Underwrite mortgage loans (analyze loan proposals; review due diligence materials; prepare spreadsheets outlining each proposal; prepare credit memos; present loans to credit committee for approval).
• Coordinate mortgage loan closings with internal and external parties, including developers, other City agencies, most notably NYC HPD and NYCHA, bankers, bond underwriters and tax credit syndicators.
• Manage relationships with current and prospective developers/borrowers.
• Prepare management reports and loan tracking information and update internal systems with deal information.
• Assist in evaluating and/or formulating affordable housing program and policy initiatives.

• Bachelor’s degree with substantial course work/credits specific to finance, and/or real estate.
• Minimum of 2 years of relevant experience in real estate lending, and/or development (may be substituted with graduate degree in finance, real estate development, and economic development, or graduate degrees in city planning or public policy with a focus on finance).
• Demonstrated interest in affordable housing.
• Proficiency in creating mortgage loan models and employing financial concepts.
• Strong interpersonal, verbal, and written communication skills.
• Ability to build relationships with staff, executives, and external partners.
• Strong organizational skills with excellent attention to detail.

• Graduate degree in related field a plus.
• Knowledge of Federal, New York State, and New York City affordable housing programs and the development process is a plus.

It is strongly preferred that you submit a cover letter with your resume. You may also fax your resume and cover letter to .

HDC demonstrates a strong commitment to its employees by providing a salary that is competitive and commensurate with experience and excellent benefits, including:

• Health Benefits at a reasonable cost
• Dental and Vision Benefits at no cost
• Retirement savings plan with a generous match and a pension plan
• Paid holiday, vacation, sick time and parental leave
• Professional development opportunities
  
  Public Service Loan Forgiveness for eligible employees
• Wellness reimbursement
• Back-up Caregiver Benefit

Apply Online!

HDC is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual’s sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.

HDC is committed to the full inclusion of all qualified individuals. As part of this commitment, HDC will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please complete the reasonable accommodations section on the application or contact Human Resources by emailing

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